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Nonmarket Forces
In economics, nonmarket forces (or non-market forces) are those acting on economic factors from outside a market system. They include organizing and correcting factors that provide order to markets and other societal institutions and organizations, as well as forces utilized by price systems other than the free price system. Uses, rationales and applications First uses The term has been employed since at least the late 1940s. A.O. Hirschman defined “exit and voice as market and nonmarket forces, that is, economic and political mechanisms” in 1970, quoting a 1963 article by Kenneth Arrow which referred to “nonmarket social institutions.” Frequent association with government In the business, management, economic and political-science literatures, nonmarket is typically associated with government, compared to other non-economic institutions, as in economist Baron’s (1995: 47) often quoted definition in the strategic-management field: ''The nonmarket environment in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market System
A market system (or market ecosystem) is any systematic process enabling many market players to offer and demand: helping buyers and sellers interact and make deals. It is not just the price mechanism but the entire system of regulation, qualification, credentials, reputations and clearing that surrounds that mechanism and makes it operate in a social context. Some authors use the term "market system" to refer to specifically to the free market system. This article focuses on the more general sense of the term according to which there are a variety of different market systems. Market systems are different from voting systems. A market system relies on buyers and sellers being constantly involved and unequally enabled; in a voting system, candidates seek the support of voters on a less regular basis. In addition (a) buyers make decisions on their own behalves, whereas voters make decisions for collectives, (b) voters are usually fully aware of their participation in social dec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Respect
Respect, also called esteem, is a positive feeling or action shown towards someone or something considered important or held in high esteem or regard. It conveys a sense of admiration for good or valuable qualities. It is also the process of honoring someone by exhibiting care, concern, or consideration for their needs or feelings. Some people may earn the respect of individuals by assisting others or by playing important social roles. In many cultures, individuals are considered to be worthy of respect until they prove otherwise. Courtesies that show respect may include simple words and phrases like "Thank you" in the West or "''Namaste''" in the Indian subcontinent, or simple physical signs like a slight bow, a smile, direct eye contact, or a simple handshake; however, those acts may have very different interpretations, depending on the cultural context. Signs and other ways of showing respect Language Respect is a feeling of deep admiration for someone or something ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reciprocity (social And Political Philosophy)
The social norm of reciprocity is the expectation that people will respond to each other in similar ways—responding to gifts and kindnesses from others with similar benevolence of their own, and responding to harmful, hurtful acts from others with either indifference or some form of retaliation. Such norms can be crude and mechanical, such as a literal reading of the eye-for-an-eye rule lex talionis, or they can be complex and sophisticated, such as a subtle understanding of how anonymous donations to an international organization can be a form of reciprocity for the receipt of very personal benefits, such as the love of a parent. The norm of reciprocity varies widely in its details from situation to situation, and from society to society. Anthropologists and sociologists have often claimed, however, that having some version of the norm appears to be a social inevitability. Reciprocity figures prominently in social exchange theory, evolutionary psychology, social psychology, cul ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Funding
A subsidy or government incentive is a form of financial aid or support extended to an economic sector (business, or individual) generally with the aim of promoting economic and social policy. Although commonly extended from the government, the term subsidy can relate to any type of support – for example from NGOs or as implicit subsidies. Subsidies come in various forms including: direct (cash grants, interest-free loans) and indirect (tax breaks, insurance, low-interest loans, accelerated depreciation, rent rebates). Furthermore, they can be broad or narrow, legal or illegal, ethical or unethical. The most common forms of subsidies are those to the producer or the consumer. Producer/production subsidies ensure producers are better off by either supplying market price support, direct support, or payments to factors of production. Consumer/consumption subsidies commonly reduce the price of goods and services to the consumer. For example, in the US at one time it was cheaper to buy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Political Scientists
This is a list of notable political scientists. See the list of political theorists for those who study political theory. See also political science. A * Robert Abelson - Yale University psychologist and political scientist with special interests in statistics and logic * Henry J. Abraham - American scholar on the judiciary and constitutional law and James Hart Professor of Government Emeritus at the University of Virginia * Alan Abramowitz – expert in American politics, political parties, ideological realignment, elections, and voting behavior; professor at Emory University * Paul R. Abramson - American political scientist known for his research and writing on American, European, and Israeli elections and professor of political science at Michigan State University * As'ad AbuKhalil - Lebanese-American professor of political science at California State University, Stanislaus. * Ibrahim Abu-Lughod * Brooke Ackerly - expert on grounded normative theory, feminist theory, f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free-rider Problem
In the social sciences, the free-rider problem is a type of market failure that occurs when those who benefit from resources, public goods (such as public roads or public library), or services of a communal nature do not pay for them or under-pay. Free riders are a problem because while not paying for the good (either directly through fees or tolls or indirectly through taxes), they may continue to access or consume it. Thus, the good may be under-produced, overused or degraded. Additionally, it has been shown that despite evidence that people tend to be cooperative by nature, the presence of free-riders cause this prosocial behaviour to deteriorate, perpetuating the free-rider problem. The free-rider problem in social science is the question of how to limit free riding and its negative effects in these situations. Such an example is the free-rider problem of when property rights are not clearly defined and imposed. The free-rider problem is common with public goods which are n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Opportunism
Opportunism is the practice of taking advantage of circumstances – with little regard for principles or with what the consequences are for others. Opportunist actions are expedient actions guided primarily by self-interested motives. The term can be applied to individual humans and living organisms, groups, organizations, styles, behaviors, and trends. Opportunism or "opportunistic behaviour" is an important concept in such fields of study as biology, transaction cost economics, game theory, ethics, psychology, sociology and politics. Definitions Opportunism is the conscious policy and practice of taking selfish advantage of circumstances. Although in many societies opportunism often has a strong negative moral connotation, it may also be defined more neutrally as putting self-interest before other interests when there is an opportunity to do so, or flexibly adapting to changing circumstances to maximize self-interest (though usually in a way that negates some principle prev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Malfeasance
Misfeasance, nonfeasance, and malfeasance are types of failure to discharge public obligations existing by common law, custom, or statute. The Carta de Logu caused Eleanor of Arborea to be remembered as one of the first lawmakers to set up the crime of misfeasance. Definition and relevant rules of law When a contract creates a duty that does not exist at common law, there are three things the parties can do wrong: * Nonfeasance is the failure to act where action is required—willfully or in neglect. Nonfeasance is similar to omission. * Misfeasance is the willful inappropriate action or intentional incorrect action or advice. * Malfeasance is the willful and intentional action that injures a party. For example, if a company hires a catering company to provide drinks and food for a retirement party, and the catering company fails to show up, it is considered nonfeasance. If the catering company shows up but provides only the drinks (but not the food, which was also paid for), ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Organizational Effectiveness
Organizational effectiveness is a concept organizations use to gauge how Effectiveness, effective they are at reaching intended outcome (probability), outcomes. Organizational effectiveness embodies the degree to which firms achieve the goals they have decided upon, a question that draws on several different factors. Among those are talent management, leadership development, organization design and structure, design of measurements and scorecards, implementation of change and transformation, deploying smart processes and smart technology to manage the firms' human capital and the formulation of the broader Human Resources agenda. Economic Models of Organizational Effectiveness In economics, organization effectiveness is defined in terms of profitability. For managers to optimize the profitability of their organization, they must avoid problems arising from high employee turnover and absenteeism. As the market for competent employees is subject to supply and demand pressures, firm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Perfect Competition
In economics, specifically general equilibrium theory, a perfect market, also known as an atomistic market, is defined by several idealizing conditions, collectively called perfect competition, or atomistic competition. In Economic model, theoretical models where conditions of perfect competition hold, it has been demonstrated that a Market (economics), market will reach an Economic equilibrium, equilibrium in which the quantity supplied for every Goods and services, product or service, including Workforce, labor, equals the quantity demanded at the current price. This equilibrium would be a Pareto optimum. Perfect competition provides both allocative efficiency and productive efficiency: * Such markets are ''allocatively efficient'', as output will always occur where marginal cost is equal to average revenue i.e. price (MC = AR). In perfect competition, any Profit maximization, profit-maximizing producer faces a market price equal to its marginal cost (P = MC). This implies that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microeconomics
Microeconomics is a branch of mainstream economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms. Microeconomics focuses on the study of individual markets, sectors, or industries as opposed to the national economy as whole, which is studied in macroeconomics. One goal of microeconomics is to analyze the market mechanisms that establish relative prices among goods and services and allocate limited resources among alternative uses. Microeconomics shows conditions under which free markets lead to desirable allocations. It also analyzes market failure, where markets fail to produce efficient results. While microeconomics focuses on firms and individuals, macroeconomics focuses on the sum total of economic activity, dealing with the issues of growth, inflation, and unemployment and with national policies relating to these issues. Microeconomics also deal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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